Caprice Resources Ltd. (CRS) AI Stock Analysis

• Market Cap: AU$68.42M
• Dividend Yield: N/A
• Average Volume (3M): 3.25M
• Price to Earnings (P/E): ―
• Beta (1Y): 2.56
• Revenue Growth: N/A
• EPS Growth: -18.92%
• Country: AU
• Employees: N/A
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Industrial Materials
• EPS (TTM): >-0.01
• Shares Outstanding: 705,318,800
• 10 Day Avg. Volume: 3,582,136
• 30 Day Avg. Volume: 3,250,774
• PEG Ratio: 0.84
• Price to Book (P/B): 0.92
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -10.33
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 42 Neutral
• Price Target: AU$0.08 ▼(-11.11% Downside)
• Action: Upgraded Date: 12/30/25
• Date: Action: Upgraded 12/30/25

The score is held down primarily by very weak financial performance (minimal revenue, widening losses, and persistent cash burn), only partly offset by a low-debt balance sheet. Technical indicators also lean bearish with the price below key moving averages and a negative MACD. Valuation provides limited support because earnings are negative and no dividend yield is provided.

Positive Factors

Low Leverage

A near-zero debt profile materially lowers solvency and interest-cost risk, giving management flexibility to fund operations via equity or cash reserves. Over 2–6 months this durable low-leverage position reduces bankruptcy risk and preserves optionality for strategic financing or restructuring if needed.

Growing Equity Base

A materially larger equity base provides a persistent capital buffer to absorb operating losses and fund asset growth without immediate insolvency risk. This structural increase supports longer runway, potential project investment, and reduces near-term refinancing pressure for the business.

Balance Sheet Strength

Relative balance-sheet strength is a lasting fundamental advantage vs. peers with higher leverage. It allows the company to withstand ongoing losses, pursue restructuring or strategic options, and limits cash interest drain—factors that preserve corporate viability over the medium term.

Negative Factors

Persistent Cash Burn

Consistent negative operating cash flow is a structural weakness: the core business consumes cash rather than generates it. Over months this forces reliance on external funding, increases dilution or financing risk, and constrains the company's ability to invest in growth or reach self-sustaining operations.

Minimal Revenue Base

Near-zero recurring revenue means the company lacks a proven, scalable business model. Without meaningful top-line, long-term margin improvement or operating leverage is unlikely; the firm remains dependent on financing and cannot demonstrate sustainable organic cash generation.

Widening Losses

Growing net losses increase cumulative capital needs and erode returns on equity, signaling the business has not achieved operating leverage. Persistently widening losses over successive years raise the risk of more dilutive capital raises and reduce the company's ability to attract strategic partners or lenders.

Caprice Resources Ltd. Business Overview & Revenue Model

Company Description

Caprice Resources Limited engages in the acquisition, exploration, and development of mineral resource projects in Australia. The company explores for gold, lead, zinc, and copper deposits. It holds 100% interest in Northampton project located in Western Australia; and 100% interest in the Wild Horse Hill project located in Pine Creek province of Northern Territory. The company also holds an 80% interest in the Cuddingwarra and Big Bell South Projects located in Western Australia; a 100% interest in the Yungaro Project located in Western Australia; and a 100% interest in the Island Gold Project located in Lake Austin. The company was incorporated in 2018 and is based in West Perth, Australia.

How the Company Makes Money

Caprice Resources Ltd. generates revenue primarily through the exploration and potential development of mineral properties. The company invests in identifying and evaluating mineral-rich areas, aiming to discover commercially viable gold and base metal deposits. Revenue is typically generated from the sale or joint development of these mineral assets. Caprice Resources may also enter into joint venture agreements with other mining companies, allowing for shared exploration costs and potential profit-sharing from the development of discovered resources. Additionally, the company might engage in raising capital through equity financing to fund its exploration and operational activities. Key revenue streams include the sale of mineral rights, joint venture partnerships, and any eventual production and sale of mined resources, subject to successful exploration and resource development.

Caprice Resources Ltd. Financial Statement Overview

Summary

Overall financials are weak: revenue is effectively nonexistent in most years and losses are persistent and widening (net income fell from -1.55M in 2024 to -3.36M in 2025). Cash generation is also poor with consistently negative operating cash flow and free cash flow, indicating ongoing cash burn. The main offset is a relatively stronger balance sheet with essentially no debt and a growing equity base, lowering leverage risk despite negative returns on equity.

Income Statement

The income statement is very weak: revenue is effectively nonexistent in most years (0 in 2022–2025, and only immaterial revenue in 2020–2021 and 2023). Losses are persistent and expanding recently, with net income deteriorating from -1.55M (2024) to -3.36M (2025). With minimal revenue, margins are not meaningful and the business has not shown a sustained path to operating profitability.

Balance Sheet

The balance sheet is a relative strength. The company carries essentially no debt (debt-to-equity ~0 in most periods), reducing financial risk and interest burden. Equity has increased materially over time (from ~4.0M in 2020 to ~25.4M in 2025), supporting asset growth. The key weakness is ongoing value erosion through negative returns on equity (roughly -9% to -18% historically, about -13% in 2025), reflecting continued losses despite a larger capital base.

Cash Flow

Cash flow quality is weak. Operating cash flow is consistently negative every year (about -0.35M to -1.05M), indicating the core business is consuming cash rather than generating it. Free cash flow is also persistently negative (about -0.61M to -3.19M) and worsened in 2025 versus 2024. While free cash flow is numerically higher than net income in several years (because losses are largely non-cash), the company still requires external funding to sustain operations and investment.

Breakdown	Jun 2025	Jun 2024	Jun 2023	Jun 2022	Jun 2021
Income Statement
Total Revenue	0.00	0.00	3.71K	0.00	10.53K
Gross Profit	-2.78K	-32.55K	-35.73K	-39.29K	9.13K
EBITDA	-3.36M	-1.51M	-1.18M	-1.32M	-2.08M
Net Income	-3.36M	-1.55M	-1.23M	-1.37M	-2.08M
Balance Sheet
Total Assets	25.78M	17.80M	14.59M	13.62M	11.88M
Cash, Cash Equivalents and Short-Term Investments	7.78M	885.58K	685.77K	1.96M	3.32M
Total Debt	0.00	0.00	38.90K	74.74K	0.00
Total Liabilities	375.09K	1.44M	280.68K	341.75K	89.82K
Stockholders Equity	25.41M	16.36M	14.31M	13.28M	11.79M
Cash Flow
Free Cash Flow	-2.26M	-2.57M	-2.49M	-3.19M	-2.58M
Operating Cash Flow	-1.05M	-692.14K	-919.65K	-924.38K	-936.47K
Investing Cash Flow	-3.81M	-1.84M	-1.57M	-2.26M	-1.68M
Financing Cash Flow	11.75M	2.73M	1.22M	1.83M	2.68M

Caprice Resources Ltd. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.09
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:CRS, the sentiment is Positive. The current price of 0.09 is below the 20-day moving average (MA) of 0.09, below the 50-day MA of 0.10, and below the 200-day MA of 0.09, indicating a bullish trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 54.14 is Neutral, neither overbought nor oversold. The STOCH value of 82.87 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:CRS.

Caprice Resources Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
EMC	52 Neutral	AU$37.76M	-23.73	-10.97%	―	―	71.63%
GL1	52 Neutral	AU$134.11M	-34.69	-2.30%	―	―	12.50%
BML	50 Neutral	AU$406.33M	-43.25	-27.55%	―	-71.00%	9.44%
WR1	47 Neutral	AU$115.89M	-3.32	-32.57%	―	-100.00%	-477.06%
CRS	42 Neutral	AU$68.42M	-11.02	-16.71%	―	―	-18.92%
PHO	41 Neutral	AU$62.95M	-5.61	―	―	―	-268.97%

Caprice Resources Ltd. Corporate Events

Caprice extends high-grade gold footprint at Island’s Vadrians deposit

Caprice Resources has reported new reverse circulation and diamond drilling results from its Island Gold Project, confirming extensions to high-grade gold mineralisation at the Vadrians deposit. The latest drilling has extended the main high-grade lode by more than 80 metres at the northern end and now defines the broader Vadrians system over 1,000 metres of strike and to at least 400 metres vertical depth.

The company also identified a new adjacent high-grade quartz reef in the Vadrians footwall, creating an additional growth target within the system. Phase 4 drilling is now complete, with further assay results from diamond and air core holes due in coming months, and follow-up reverse circulation drilling planned to test both northern strike and deeper extensions, underscoring ongoing resource growth potential at Island.

The most recent analyst rating on (AU:CRS) stock is a Hold with a A$0.09 price target. To see the full list of analyst forecasts on Caprice Resources Ltd. stock, see the AU:CRS Stock Forecast page.

Caprice Resources Appoints New Exploration Manager to Drive Murchison Gold Growth

Caprice Resources has appointed experienced exploration geologist Duncan Franey as Exploration Manager, strengthening its technical leadership as it ramps up drilling and resource-definition work across its Murchison gold portfolio. Franey, who has over 15 years’ experience and a track record of resource growth at other ASX-listed gold producers, will lead efforts to extend mineralisation and drive new discoveries at the Island Gold and Comet Gold projects, supported by ongoing and planned diamond, air core and RC drilling programs and continued target generation at the Chobe Project in West Arunta.

The most recent analyst rating on (AU:CRS) stock is a Hold with a A$0.09 price target. To see the full list of analyst forecasts on Caprice Resources Ltd. stock, see the AU:CRS Stock Forecast page.

Caprice Extends High-Grade Gold at Island Project and Triples Murchison Footprint

Caprice Resources reported a strong December quarter marked by significant progress at its Island Gold Project, where Phase 4 drilling delivered multiple high-grade gold intercepts, extended mineralisation to at least 400 metres depth and over 1,000 metres of strike at the Vadrians prospect, and confirmed grade continuity through both reverse circulation and diamond drilling. The company also executed a binding earn-in to acquire the Comet Gold Project along strike from Island Gold, effectively tripling its landholding to a contiguous 68km² in the Murchison Goldfields, commenced fieldwork at Comet, completed high-resolution aeromagnetic surveying at its Chobe Project in West Arunta to refine future drill targets, and closed the quarter with A$4.8 million in cash, positioning it for an active 2026 exploration programme.

The most recent analyst rating on (AU:CRS) stock is a Hold with a A$0.11 price target. To see the full list of analyst forecasts on Caprice Resources Ltd. stock, see the AU:CRS Stock Forecast page.

Caprice Extends High-Grade Gold at Island Project and Restarts Phase 4 Drilling

Caprice Resources has reported a new set of high-grade assay results from Phase 4 drilling at its Island Gold Project, confirming gold mineralisation at the Vadrians prospect to at least 400 metres vertical depth and over 1,000 metres of strike, and identifying a new high-grade quartz reef in the footwall. The company has restarted drilling to complete the remaining 1,000 metres of diamond and 6,000 metres of air core drilling in the 20,000-metre Phase 4 program, backed by a strong pipeline of pending assays, while also initiating field exploration at the Comet Project, positioning the company for an active quarter of results and potentially significant growth in its Murchison gold portfolio.

The most recent analyst rating on (AU:CRS) stock is a Hold with a A$0.10 price target. To see the full list of analyst forecasts on Caprice Resources Ltd. stock, see the AU:CRS Stock Forecast page.

Caprice Resources Director Increases Shareholding Through Option Exercise

Caprice Resources Ltd has disclosed a change in director Rob Waugh’s indirect holdings, made through the Waugh Family Account. The director exercised 800,000 options at $0.0729 each, converting them into fully paid shares, which increased his shareholding to 1,696,924 shares and reduced his remaining options to 3,700,000; the transaction was conducted outside a closed period and is part of routine equity-based alignment of director and shareholder interests.

Caprice Resources Issues Over 10 Million New Shares, Confirms Regulatory Compliance

Caprice Resources Limited has issued 10,138,859 new ordinary shares, as reflected in Appendix 2A filings lodged with the ASX, expanding its share capital base. The company states that the shares were issued without a prospectus under the Corporations Act’s disclosure exemptions, while confirming it remains compliant with all relevant financial reporting and continuous disclosure obligations and that there is no undisclosed price-sensitive information, which is intended to provide assurance to investors about transparency and regulatory conformity around the capital issuance.

Caprice Resources Seeks Quotation for 8.6 Million New Shares on ASX

Caprice Resources Ltd, listed on the ASX under the code CRS, has applied for quotation of an additional 8,633,334 ordinary fully paid shares, following the exercise or conversion of existing options or other convertible securities. The new securities, issued on 18 December 2025, will expand the company’s quoted share capital, potentially enhancing liquidity for investors and reflecting ongoing capital management activities, though the announcement provides no further detail on use of funds or strategic implications.

Caprice Resources Ltd. Announces Quotation of New Securities on ASX

Caprice Resources Ltd. has announced the application for the quotation of new fully paid ordinary securities on the Australian Securities Exchange (ASX). This move involves the issuance of 1,505,525 new securities, which were issued on December 17, 2025, as part of previously disclosed transactions. The development highlights the company’s ongoing initiatives related to capital structure and growth, potentially impacting its market positioning and providing investors with additional opportunities in its equity offerings.

Caprice Resources Expands Island Gold Project with Strategic Acquisition

Caprice Resources Ltd has completed the acquisition of the Comet Exploration Project, significantly expanding its Island Gold Project footprint within the Murchison Goldfields by tripling its landholdings. The addition of high-potential exploration tenements positions Caprice near established mines and processing infrastructure, enhancing its exploration prospects and immediate discovery potential for stakeholders.

Caprice Resources Confirms Deep Gold Mineralization at Island Gold Project

Caprice Resources Ltd has announced successful assay results from its Phase 4 drilling at the Island Gold Project, confirming gold mineralization at the Vadrians lode system to a depth of at least 400 meters. The results indicate potential for further extensions, with significant gold intercepts reinforcing the continuity and growth potential of the high-grade gold system. The ongoing drilling program, which includes reverse circulation, diamond, and air core drilling, aims to enhance the company’s understanding of the mineralization and support future resource estimates.

Caprice Resources Ltd Successfully Passes All AGM Resolutions

Caprice Resources Ltd announced that all resolutions proposed at its Annual General Meeting on November 24, 2025, were successfully passed by a poll. The resolutions included the adoption of the remuneration report, election and re-election of directors, approval of a 7.1A mandate, confirmation of the auditor’s appointment, and ratification of an agreement to issue consideration shares. This successful passing of resolutions indicates strong shareholder support and could positively impact the company’s governance and strategic direction.

Caprice Resources Targets Major Gold Discovery in Murchison

Caprice Resources Ltd. has presented its AGM presentation, highlighting its strategic focus on uncovering a major gold discovery in the Murchison area. This initiative could significantly enhance the company’s operational capabilities and strengthen its position in the mining industry, potentially offering substantial benefits to its stakeholders.